Supporting Reconstruction through Smart Fiscal Governance (SURGE) (WB-P504773)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 7, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Ukraine - Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 750.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,987.54 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Nov 15, 2024

Disclosed by Bank Mar 7, 2024


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the objective of this project is to establish the institutional foundations for implementation and financing of climate-smart recovery and reconstruction.

The Program will support the implementation of selected components of the Government’s PIM Reform Roadmap, PFM Reform Strategy Action Plan, and National Revenue Strategy. The Government has requested the Bank support for the implementation of reforms that are critical for reconstruction and recovery:

• PIM Reform Roadmap, led by MoF, including strategic and medium-term budget planning for investments; selection and approval of public investment projects for financing; management of public investments at the local level; and human and IT capacity building for public investment management.
• PFM Action Plan components led by MoF, including local medium-term budget planning; program-based budgeting at the local level; aligning intergovernmental transfers with expenditure assignments.
• National Revenue Strategy, led by MoF, including compliance management; strengthening the audit process; exchange of information for tax purposes; improvement of excise tax administration; consolidation of IT systems; improvement of STS personnel policy.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Environmental Risk Rating for the IPF component is considered Moderate . The IPF Component is dedicated to capacity building on project implementation procedures on national and local government levels by means of trainings and awareness-raising activities, as well as supporting different associated IT solutions (Type 3 TA Activity). The potential project-related risks and impacts on the environment are not likely to be significant and can be easily mitigated in a predictable manner. At this stage, it is not envisaged that IPF financing will be used to procure any services or products directly resulting in development of investment project designs or implementation of such projects. Thus, the main environmental risks of the Project are related to capacity building activities (offline, in person) and include OHS and community health and safety issues stemming from war hazards (Explosive Remnants of War , aerial strikes etc.). The risk rating will be reassessed during Appraisal and revised accordingly, if needed.

The Social Risk Rating for the IPF component is considered Moderate. The IPF Component is dedicated to capacity building on project implementation procedures at the national and local government levels by means of trainings and awareness-raising activities, as well as supporting different associated IT solutions (Type 3 TA Activity). At this stage, it is not envisaged that IPF financing will be used to procure any services or products directly resulting in development of investment project designs or implementation of such projects, nor finance any civil works. There are potential health and safety risks for trainers and participants of training activities stemming from war hazards. The capacity building activities themselves will carry minimal or no social risks or impacts and will support improved E&S capacity for government entities that will in the future be responsible for carrying out activities such as public investment management and related environmental and social due diligence processes. Other social risks relate to ensuring that outreach and accessibility of capacity building activities are inclusive across geographically and socioeconomically dispersed local governments and stakeholders experiencing varying effects of the war. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The SURGE PforR Program will be implemented over 30 months at an estimated total cost of US$2,689.23 million, with US$750 million funded by IBRD loans and IDA credit, with Government financing of US$1,237.54 million.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank

Urska Zrinski
Senior Public Sector Specialist

Oleksii Balabushko
Lead Governance Specialist

Borrower/Client/Recipient

Ukraine

Implementing Agencies

Ministry of Finance
Olga Zykova
Deputy Minister of Finance of Ukraine
zykova@minfin.gov.ua

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works